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Director of accounting briefs committee on city audit timeline; auditors to be on site next week
Summary
Savannah Hornsby, the city's director of accounting and financial reporting, told the Finance Committee auditors began preliminary field work and were scheduled on-site next week; the city expects audited financials by March and a presentation to the committee in April.
Savannah Hornsby, the city's director of accounting and financial reporting, briefed the Tuscaloosa City Finance Committee on the status of the city's external audit.
Hornsby said her team had prepared work papers since October and provided trial balances to the auditors last week. She reported that preliminary field work began the day before the meeting and that auditors would be on-site starting next Monday for at least one week. Hornsby said the city expects to have audited financial statements by March and to present them to the committee in April.
Committee members characterized the timeline as reasonable and noted the audit firm is based out of Georgia. No formal action was required; the item was provided as an informational briefing at the chair’s request.
